TRP Gross Profit vs Operating Income Analysis

TRP Stock

USD 49.85 0.38 0.76%

TC Energy financial indicator trend analysis is much more than just breaking down TC Energy Corp prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether TC Energy Corp is a good investment. Please check the relationship between TC Energy Gross Profit and its Operating Income accounts. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in TC Energy Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Gross Profit vs Operating Income

Gross Profit vs Operating Income Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of TC Energy Corp Gross Profit account and Operating Income. At this time, the significance of the direction appears to have almost identical trend.

The correlation between TC Energy's Gross Profit and Operating Income is 0.91. Overlapping area represents the amount of variation of Gross Profit that can explain the historical movement of Operating Income in the same time period over historical financial statements of TC Energy Corp, assuming nothing else is changed. The correlation between historical values of TC Energy's Gross Profit and Operating Income is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Gross Profit of TC Energy Corp are associated (or correlated) with its Operating Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Operating Income has no effect on the direction of Gross Profit i.e., TC Energy's Gross Profit and Operating Income go up and down completely randomly.

Correlation Coefficient

0.91

Relationship Direction	Positive
Relationship Strength	Very Strong

View All Relationships

Gross Profit

Gross profit is a required income statement account that reflects total revenue of TC Energy Corp minus its cost of goods sold. It is profit before TC Energy operating expenses, interest payments and taxes. Gross profit is also known as gross margin. The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Operating Income

Operating Income is the amount of profit realized from TC Energy Corp operations after accounting for operating expenses such as cost of goods sold (COGS), wages and depreciation. Operating income takes the gross income and subtracts other operating expenses and then removes depreciation. Operating Income of TC Energy Corp is typically a synonym for earnings before interest and taxes (EBIT) and is also commonly referred to as operating profit or recurring profit. Earnings before interest and taxes (EBIT), representing the amount of profit a company generates from its operations.

Most indicators from TC Energy's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into TC Energy Corp current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in TC Energy Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

At this time, TC Energy's Selling General Administrative is relatively stable compared to the past year. As of 11/25/2024, Enterprise Value is likely to grow to about 62.7 B, while Tax Provision is likely to drop slightly above 525.4 M.

	2021	2022	2023	2024 (projected)
Gross Profit	6.7B	6.9B	7.8B	5.9B
Total Revenue	13.4B	15.0B	15.9B	9.8B

Gross Profit Total Revenue

TC Energy fundamental ratios Correlations

	Common Stock Shares Outstanding	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Other Liab	Net Tangible Assets	Property Plant And Equipment Net	Current Deferred Revenue	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Other Assets	Long Term Debt	Net Receivables	Good Will	Common Stock Total Equity	Short Term Investments	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity
Common Stock Shares Outstanding		0.88	0.86	0.17	0.71	0.91	0.56	0.54	0.9	-0.06	0.86	0.11	0.65	0.15	0.9	0.32	0.61	0.63	0.31	0.8	0.76	0.26	0.63	0.39	-0.56	-0.05
Total Assets	0.88		1.0	0.45	0.87	0.95	0.81	0.75	0.99	0.27	1.0	-0.25	0.85	0.31	1.0	0.57	0.78	0.81	0.62	0.92	0.85	0.48	0.82	0.61	-0.38	-0.23
Short Long Term Debt Total	0.86	1.0		0.46	0.87	0.93	0.82	0.75	0.99	0.28	1.0	-0.28	0.86	0.32	0.99	0.56	0.77	0.82	0.63	0.92	0.84	0.5	0.83	0.61	-0.36	-0.26
Other Current Liab	0.17	0.45	0.46		0.61	0.38	0.59	0.74	0.47	0.12	0.45	-0.6	0.36	0.49	0.44	0.82	0.6	0.6	0.84	0.26	0.5	0.63	0.6	0.85	0.09	-0.31
Total Current Liabilities	0.71	0.87	0.87	0.61		0.89	0.71	0.73	0.89	0.2	0.89	-0.16	0.79	0.07	0.88	0.5	0.7	0.66	0.6	0.8	0.69	0.33	0.67	0.6	-0.13	-0.19
Total Stockholder Equity	0.91	0.95	0.93	0.38	0.89		0.75	0.72	0.96	0.19	0.94	-0.02	0.74	0.17	0.96	0.47	0.78	0.74	0.51	0.91	0.84	0.3	0.75	0.54	-0.38	-0.16
Other Liab	0.56	0.81	0.82	0.59	0.71	0.75		0.86	0.8	0.48	0.82	-0.59	0.73	0.6	0.81	0.79	0.93	0.95	0.85	0.83	0.92	0.69	0.95	0.78	-0.33	-0.26
Net Tangible Assets	0.54	0.75	0.75	0.74	0.73	0.72	0.86		0.77	0.27	0.75	-0.5	0.62	0.64	0.75	0.88	0.91	0.89	0.89	0.63	0.87	0.74	0.9	0.89	-0.19	-0.27
Property Plant And Equipment Net	0.9	0.99	0.99	0.47	0.89	0.96	0.8	0.77		0.2	0.99	-0.2	0.82	0.3	1.0	0.57	0.79	0.81	0.61	0.9	0.85	0.47	0.81	0.64	-0.39	-0.18
Current Deferred Revenue	-0.06	0.27	0.28	0.12	0.2	0.19	0.48	0.27	0.2		0.28	-0.39	0.18	0.17	0.23	0.21	0.28	0.29	0.34	0.38	0.2	0.06	0.31	0.25	0.11	-0.27
Net Debt	0.86	1.0	1.0	0.45	0.89	0.94	0.82	0.75	0.99	0.28		-0.26	0.86	0.29	0.99	0.55	0.76	0.82	0.62	0.93	0.83	0.48	0.82	0.61	-0.34	-0.27
Retained Earnings	0.11	-0.25	-0.28	-0.6	-0.16	-0.02	-0.59	-0.5	-0.2	-0.39	-0.26		-0.39	-0.71	-0.22	-0.7	-0.46	-0.59	-0.8	-0.18	-0.38	-0.79	-0.58	-0.67	-0.03	0.2
Accounts Payable	0.65	0.85	0.86	0.36	0.79	0.74	0.73	0.62	0.82	0.18	0.86	-0.39		0.22	0.84	0.46	0.67	0.68	0.58	0.84	0.67	0.52	0.68	0.46	-0.17	-0.14
Cash	0.15	0.31	0.32	0.49	0.07	0.17	0.6	0.64	0.3	0.17	0.29	-0.71	0.22		0.3	0.86	0.65	0.7	0.73	0.18	0.61	0.8	0.69	0.72	-0.38	-0.09
Non Current Assets Total	0.9	1.0	0.99	0.44	0.88	0.96	0.81	0.75	1.0	0.23	0.99	-0.22	0.84	0.3		0.55	0.78	0.81	0.6	0.93	0.85	0.47	0.82	0.6	-0.4	-0.23
Non Currrent Assets Other	0.32	0.57	0.56	0.82	0.5	0.47	0.79	0.88	0.57	0.21	0.55	-0.7	0.46	0.86	0.55		0.84	0.85	0.93	0.41	0.77	0.81	0.84	0.93	-0.2	-0.2
Other Assets	0.61	0.78	0.77	0.6	0.7	0.78	0.93	0.91	0.79	0.28	0.76	-0.46	0.67	0.65	0.78	0.84		0.92	0.83	0.74	0.95	0.68	0.92	0.81	-0.43	-0.15
Long Term Debt	0.63	0.81	0.82	0.6	0.66	0.74	0.95	0.89	0.81	0.29	0.82	-0.59	0.68	0.7	0.81	0.85	0.92		0.86	0.75	0.96	0.8	1.0	0.84	-0.4	-0.27
Net Receivables	0.31	0.62	0.63	0.84	0.6	0.51	0.85	0.89	0.61	0.34	0.62	-0.8	0.58	0.73	0.6	0.93	0.83	0.86		0.5	0.76	0.81	0.86	0.95	-0.06	-0.21
Good Will	0.8	0.92	0.92	0.26	0.8	0.91	0.83	0.63	0.9	0.38	0.93	-0.18	0.84	0.18	0.93	0.41	0.74	0.75	0.5		0.81	0.35	0.76	0.43	-0.4	-0.21
Common Stock Total Equity	0.76	0.85	0.84	0.5	0.69	0.84	0.92	0.87	0.85	0.2	0.83	-0.38	0.67	0.61	0.85	0.77	0.95	0.96	0.76	0.81		0.67	0.96	0.76	-0.51	-0.17
Short Term Investments	0.26	0.48	0.5	0.63	0.33	0.3	0.69	0.74	0.47	0.06	0.48	-0.79	0.52	0.8	0.47	0.81	0.68	0.8	0.81	0.35	0.67		0.8	0.76	-0.28	-0.29
Non Current Liabilities Total	0.63	0.82	0.83	0.6	0.67	0.75	0.95	0.9	0.81	0.31	0.82	-0.58	0.68	0.69	0.82	0.84	0.92	1.0	0.86	0.76	0.96	0.8		0.83	-0.4	-0.29
Inventory	0.39	0.61	0.61	0.85	0.6	0.54	0.78	0.89	0.64	0.25	0.61	-0.67	0.46	0.72	0.6	0.93	0.81	0.84	0.95	0.43	0.76	0.76	0.83		-0.11	-0.11
Other Current Assets	-0.56	-0.38	-0.36	0.09	-0.13	-0.38	-0.33	-0.19	-0.39	0.11	-0.34	-0.03	-0.17	-0.38	-0.4	-0.2	-0.43	-0.4	-0.06	-0.4	-0.51	-0.28	-0.4	-0.11		-0.05
Other Stockholder Equity	-0.05	-0.23	-0.26	-0.31	-0.19	-0.16	-0.26	-0.27	-0.18	-0.27	-0.27	0.2	-0.14	-0.09	-0.23	-0.2	-0.15	-0.27	-0.21	-0.21	-0.17	-0.29	-0.29	-0.11	-0.05

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TC Energy Account Relationship Matchups

TC Energy fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Common Stock Shares Outstanding	931M	940M	974M	996M	1.0B	567.0M
Total Assets	99.3B	100.3B	104.2B	114.3B	125.0B	64.6B
Short Long Term Debt Total	49.9B	49.6B	52.8B	58.3B	63.7B	32.4B
Other Current Liab	1.2B	2.7B	2.3B	4.3B	3.5B	3.7B
Total Current Liabilities	12.9B	12.0B	13.0B	16.9B	11.8B	7.8B
Total Stockholder Equity	30.8B	31.4B	33.3B	34.0B	29.6B	19.6B
Other Liab	10.6B	11.0B	11.1B	12.8B	14.7B	15.4B
Net Tangible Assets	13.9B	14.7B	17.2B	18.6B	21.4B	22.5B
Property Plant And Equipment Net	65.5B	69.8B	70.2B	77.8B	80.6B	45.4B
Current Deferred Revenue	120M	129M	90M	62M	(40M)	(42M)
Net Debt	48.6B	48.0B	52.1B	57.7B	59.9B	31.6B
Retained Earnings	4.0B	5.4B	3.8B	819M	(3.0B)	(2.8B)
Accounts Payable	4.5B	3.1B	4.2B	4.3B	5.3B	3.0B
Cash	1.3B	1.5B	673M	620M	3.8B	4.0B
Non Current Assets Total	91.6B	95.1B	96.8B	107.0B	113.7B	60.0B
Non Currrent Assets Other	4.5B	5.8B	5.1B	5.7B	10.1B	10.6B
Other Assets	6.7B	5.9B	5.6B	6.4B	7.4B	7.8B
Long Term Debt	42.9B	43.4B	46.3B	50.1B	60.3B	63.3B
Net Receivables	2.4B	2.3B	3.3B	4.1B	4.7B	4.9B
Good Will	12.9B	12.7B	12.6B	12.8B	12.5B	6.4B
Common Stock Total Equity	21.2B	23.2B	24.4B	24.5B	28.2B	29.6B
Short Term Investments	190M	235M	159M	608M	1.3B	1.3B
Liabilities And Stockholders Equity	99.3B	100.3B	104.2B	114.3B	125.0B	64.6B
Non Current Liabilities Total	54.0B	54.8B	57.8B	63.3B	74.2B	77.9B
Inventory	452M	629M	724M	936M	982M	1.0B
Other Current Assets	627M	560M	2.6B	1.1B	780M	970.5M
Other Stockholder Equity	3.6B	2M	729M	722M	649.8M	617.3M
Total Liab	66.9B	66.8B	70.8B	80.2B	86.0B	43.5B
Deferred Long Term Liab	596M	1.1B	1.7B	231M	265.7M	402.7M
Long Term Investments	6.5B	6.7B	8.4B	9.5B	10.3B	10.8B
Short Long Term Debt	7.0B	6.1B	6.5B	8.2B	2.9B	3.2B
Total Current Assets	7.7B	5.2B	7.4B	7.3B	11.4B	11.9B
Accumulated Other Comprehensive Income	(1.6B)	(2.4B)	(1.4B)	955M	49M	51.5M
Short Term Debt	7.0B	6.2B	6.5B	8.2B	3.0B	3.6B
Intangible Assets	1.9B	2.2B	231M	14M	16.1M	15.3M
Common Stock	24.4B	24.5B	26.7B	29.0B	30.0B	31.5B
Property Plant Equipment	65.5B	69.8B	70.2B	75.9B	87.3B	91.7B
Property Plant And Equipment Gross	65.5B	69.8B	102.1B	112.5B	119.7B	125.7B
Cash And Short Term Investments	1.3B	1.5B	673M	620M	4.9B	5.2B

Pair Trading with TC Energy

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if TC Energy position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in TC Energy will appreciate offsetting losses from the drop in the long position's value.

Moving together with TRP Stock

0.72	AM	Antero Midstream Partners Sell-off Trend	Pair Corr
0.91	EE	Excelerate Energy	Pair Corr
0.78	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.74	DLNG	Dynagas LNG Partners Earnings Call This Week	Pair Corr

Moving against TRP Stock

0.87	LPG	Dorian LPG	Pair Corr
0.64	FRO	Frontline Earnings Call This Week	Pair Corr
0.63	GEL	Genesis Energy LP	Pair Corr
0.61	BROGW	Brooge Energy Limited	Pair Corr
0.49	FLNG	FLEX LNG Earnings Call This Week	Pair Corr

The ability to find closely correlated positions to TC Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TC Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back TC Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling TC Energy Corp to buy it.

The correlation of TC Energy is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TC Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TC Energy Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for TC Energy can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

Additional Tools for TRP Stock Analysis

When running TC Energy's price analysis, check to measure TC Energy's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy TC Energy is operating at the current time. Most of TC Energy's value examination focuses on studying past and present price action to predict the probability of TC Energy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move TC Energy's price. Additionally, you may evaluate how the addition of TC Energy to your portfolios can decrease your overall portfolio volatility.

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